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(OE) Increased activity in the Brazilian offshore oil and gas sector could help strengthen the market recovery for offshore supply vessels (OSV) in the U.S. Gulf of Mexico. In early October, Brazilian state-owned oil company Petrobras issued requests for quotations (RFQ) for up to 20 OSVs ranging from 3,000 to over 4,500 deadweight tons to... Continue Reading →
Fugro’s revenue for the third quarter of 2023 is €608.9 million, an increase from €480.2 million reported in the same quarter of 2022 – a result said to be due to better contracting conditions, high activity levels and good project execution. Fugro reported that its revenue was up by 32.6% on a currency-comparable basis, by... Continue Reading →
(Reuters) Wintershall Dea on Monday reported that its third-quarter net profit slumped 86% year-on-year due to weaker oil and gas prices, unplanned maintenance outages in Norway and the costly loss of Russian business. The company's earnings showed that adjusted net income totalled 61 million euros ($64.4 million) in the three months to September, compared with... Continue Reading →
(Reuters) Portuguese oil company Galp Energia said on Monday that its adjusted third-quarter profit rose 12% on year as refining margins almost doubled, offsetting a decline in crude output following the sale of its Angolan fields and lower oil prices. It reported a net profit of 210 million euros ($221.84 million), less than the 241... Continue Reading →
(OEE) Portuguese oil and gas company Galp is gearing up to start drilling a well in an offshore block in Namibia, near the giant oil discoveries made recently by TotalEnergies and Shell. In May, Galp entered into a contract with SFL Corporation for the semi-submersible rig Hercules. The 115-day contract, prior to any extension option exercise, is... Continue Reading →
(Reuters) Angola's largest private oil and gas company Azule Energy plans to raise production by around 14% to 250,000 barrels per day (bpd) by 2026, its CEO said on Thursday, in a boost to the country's plans to turn around flagging output. Azule Energy, a 50/50 joint venture between Eni and BP formed last year when the... Continue Reading →
(Reuters) Italy's Eni hopes to reach a final investment decision on its second floating liquefied natural gas (LNG) project in Mozambique by the end of June next year, two sources directly involved with the project said on Tuesday. Its first LNG project - called Coral Sul - made the impoverished African country a global producer... Continue Reading →
(Bloomberg) – Petrobras is studying how Chevron Corp. managed to resume operations in Venezuela to see if it makes sense for Brazil’s state-controlled oil company to reenter the oil-rich nation, Chief Executive Officer Jean Paul Prates said. It makes “geopolitical sense” for Petrobras to look at expanding into Venezuela and Bolivia because they are neighboring... Continue Reading →
Brazilian state-owned oil and gas giant Petrobras has awarded TechnipFMC with a contract to supply flexible pipes for pre-salt fields offshore Brazil. Under the contract deemed as “significant”, TechnipFMC will design, engineer, and manufacture 14 kilometers of gas injection riser pipes and will supply associated services including packing and storage. Jonathan Landes, President of Subsea at TechnipFMC... Continue Reading →
(OE) French oil major TotalEnergies has sold a 40% interest in the offshore Block 20 in the Kwanza Basin in Angola to Malaysia's Petronas. The transaction was completed for an amount of $400 million as at January 1st, 2023, subject to customary price adjustments. TotalEnergies retains the operatorship and a 40% interest in Block 20,... Continue Reading →
Brazil Energy Insight 